New Canaan Land Conservation Trust Inc

“The trust has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported on its form 990 is complete and accurate. Once the form 990 is prepared, it is submitted electronically to the finance committee, which reviews the return in detail and presents its review, along with the form 990, to the full board of directors for approval. Following approval by the board of directors, the form 990 is filed with the internal revenue service.”

“The conflict of interest policy is applicable to all of the following: board member, honorary director, committee member (not on the board), key volunteer (a volunteer with access to information not readily available to the public). Each board member is required to annually sign a statement affirming they read and understand the policy. Prior to discussion of substantive items on the meeting agenda, or promptly upon realizing that a potential, actual, or perceived conflict of interest exists, any person with knowledge of the conflict must affirmatively and fully disclose that conflict to the board, or to the committee, which is meeting. The individual ("insider") with the conflict must recuse themselves from discussion and voting on any matter where a conflict exists. An insider may not be physically present during the discussion and vote on an issue where he/she is conflicted, except that the board or committee may ask a person with a conflict of interest to provide information or interpretation before recusing themselves. The minutes must record the name(s) of those who disclose potential or actual conflict of interests, the recusal of the insider from the discussion and document that recused parties were not present for the discussion or any ensuing vote. If the conflict of interest stems from a relationship under which the insider is under a duty of confidentiality, the insider may disclose this limitation in place of other details of the nature of the conflict of interest. Any insider or other person who is uncertain about a potential or actual conflict of interest in any matter may ask the board to determine whether a conflict exists. The board shall resolve the question by vote, excluding any insider who is the subject of the vote.”

“A performance review for the executive director is conducted at the end of every fiscal year, and at that time, the executive director's salary is reviewed. The salary of the executive director is recommended by the executive committee and approved by the board of directors. The executive director's compensation package is determined by comparing the salaries of executive directors at comparable organizations, as well as the performance and qualifications of the executive director. Approved changes to the executive director's salary are documented in a letter from the president to the executive director.”

“The trust makes its form 990 available for public inspection in accordance section 6104 of the internal revenue code. The form 990 is available on guidestar.org and other similar types of websites. In addition, the articles of incorporation, conflict of interest policy, and by-laws are available upon written request.”

“Change in beneficial interest in a community foundation 59,050.”

“The trust has a committee that is responsible for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”